Reservoir Raises $8 Million to Transform Home Water Heating
Reservoir, a Boston-based company focused on simplifying and enhancing home electrification, has announced it raised $8 million in a seed funding round. The funding, which took place on August 12, 2026, was led by Asymmetric Capital Partners, with additional participation from Founder Collective and MCJ.
Reservoir is tackling the often-overlooked household appliance: the water heater. By creating smarter, more efficient water heaters, the company aims to make home electrification not only easy and affordable but also more environmentally friendly. "The typical water heater is devoid of intelligence, using a god-awful amount of energy," said CEO and Co-Founder Luke Winston-Almanzar. "I was using more energy to heat my water than it takes to drive my electric car."
Founders and Leadership
The company was co-founded by Luke Winston-Almanzar, who serves as CEO, alongside Gabriel Parisi-Amon, the Chief Product Officer, and Jake Felser, the Chief Technology Officer. Together, they are on a mission to make water heaters that people—and the energy grid—will actually want.
Strategic Use of Funds
Reservoir plans to use the newly acquired funds to expand the installation of its smart water heaters in homes across the Boston area. The company has already installed about 100 units and aims to increase this number to approximately 1,000 by the end of next year. This expansion is expected to bring the company closer to achieving a megawatt-scale capacity in energy storage, which could help stabilize the grid.
Innovation in Water Heating
Reservoir's water heaters are designed to be significantly more efficient than traditional models. Using a heat pump technology, their devices are nearly four times more efficient than standard electric water heaters and five times more efficient than natural gas versions. By predicting when households will need hot water, the system can optimize heating during periods of low electricity demand and cheaper rates.
This innovative approach not only reduces energy consumption but also aims to lower utility bills for homeowners, making it a win-win for both consumers and the environment.